HONG KONG—Ye, who is previously known as Kanye West and has called himself a Nazi in recent weeks, is reportedly planning to launch a cryptocurrency token named YZY. This move comes as Ye looks for alternative revenue avenues after various brands severed ties due to his controversial comments.

The YZY token aims to allow Ye to navigate around platforms that have distanced themselves from him, including Shopify. Of the total allocation of YZY tokens:

• 70% will go directly to Ye
• 10% will be used for liquidity
• 20% is earmarked for investors.

This initiative also comes in the wake of Ye’s past controversies, which have cost him partnerships with major brands like Adidas and Balenciaga. There are concerns regarding the ethical implications of celebrity-driven tokens, as many have faced backlash for exploiting fan loyalty without providing tangible benefits.

Ye has hinted at wanting a significant ownership stake similarly to Donald Trump’s TRUMP meme coin, which was launched just days before his second inauguration. Allegedly, Ye’s ownership stake in YZY has been negotiated down from an initial desire for 80% to 70%.

As anticipation builds around YZY, it’s clear that Ye’s ventures into the crypto world will continue to draw scrutiny given his ongoing public controversies.